Verification solutions provider Xactus now offers The Work Number Report Indicator from Equifax through its Xactus360 platform.
The combined solution allows lenders to quickly see an indicator of the applicant’s employment status through The Work Number alongside an Equifax credit report.
This is a complimentary benefit from Xactus for clients who order their credit reports through Xactus and leverage The Work Number for their verifications of income and employment. The data provided will indicate whether an active record is available from The Work Number within the last 36 months, the firm says in a release.
The additional report can be delivered alongside the credit report.
“By providing more of the data lenders need upfront, we are helping them to have a more complete picture of a consumer’s financial profile earlier in the process,” says Greg Holmes, chief revenue officer of Xactus. “As a preferred partner of Equifax, Xactus is the first provider offering this service to originators, enabling them to strengthen decision making while managing verification expenses. This new capability is in keeping with our mission to advance the modern mortgage by providing the right data at the right time.”
“Equifax is committed to delivering unique, data-driven solutions that help lenders optimize their workflows and expedite the loan process,” adds Joel Rickman, general manager and senior vice president of U.S. mortgage and verification services at Equifax. “We’re proud to partner with Xactus to offer its customers streamlined access to our newest solution, The Work Number Report Indicator, providing unique employment insights earlier in the mortgage loan qualification process.”